in this market, do you think this is possible?

My ILs are looking to buy a house so every time I see them, they talk about what they saw. And I might add, they make sure to let DH and I know the listing price for every single house...they're really into showing off (DH's words, not mine though I agree.)

So anyway, FIL claims that every $1+ million house in Manhasset is selling within a week. I think that's b.s., especially in this market. But then again, in this case, I don't know what motivation he's got to fib...though he does all the time with other things.

What do you think? Is it really possible that SO many expensive homes are selling so fast. And I might add, every single one is still on MLSLI (though I know that REA are sometimes slow to take them down.)

Re: in this market, do you think this is possible?

I think it is def possible. Esp in Manhasset.

Re: in this market, do you think this is possible?

if the house is priced right it can still sell very quickly.

Re: in this market, do you think this is possible?

I think in the market we are currently in, more expensive home and extremely low-priced home sell quicker than "average" homes. At least, this is what I have been seeing.

Re: in this market, do you think this is possible?

I don't know. I know Manhasset is a beautiful area with some gorgeous houses, but just the other night my DH and I were on MLSLI and looking at houses in manhasset (just for fun) and I was surprised at how expensive a lot of them were, for the amount of updating that they needed....

But as they say, location, location, location...so maybe they do sell quickly.

Re: in this market, do you think this is possible?

Re: in this market, do you think this is possible?

I agree. In this market homes priced below 400K and above 850K seem to be moving. Its the middle of the road folks who are struggling. A lot of my parents friends are struggling because they fall with the 400-700 range, which right now is a tough sell

Re: in this market, do you think this is possible?

I think it is possible. My good friend lives in Manhasset and she was recently discussing how crazy the market is there. The house 2 doors down from her went for around a million and the entire house needs to be gutted!! Plus, there are hardly any "reasonably" priced homes - the majority of homes in the area are quite expensive. It is a beautiful and convenient area.

Re: in this market, do you think this is possible?

A home that's priced right to sell, will sell quickly in any market.

Re: in this market, do you think this is possible?

I live in manhasset. the market is moving but i definitely see some things that come on the market and just sit. the really great houses dont even make it to MLS though.

Manhasset has a co-operative real estate agreement though so all listings in manhasset go on this internal system for manhasset realtors. this is how we got our house without it ever going to MLS.

Like every area, as previous posters have stated, if a house is priced right, it will sell. being that the average house price in manhasset is about $1.2mm, you arent even really describing the high end houses here. I think when a good house comes on the market and is priced just above a million, people who are dieing to get in to the area at the lower end of the price range will snatch it right up.

Re: in this market, do you think this is possible?

The houses that sit are often the ones with issues. They need updates, or the taxes are out of proportion to the price, etc. The market is not exactly at rock bottom, it is just not as crazy as it was a few years ago.

Re: in this market, do you think this is possible?

I can't say for sure, but i would think that $1 million is the lower end for Manhasset - so therefore, if people want to get in, they will gobble up those houses.

When we were looking a few years ago, we didn't see anything under $800K in Manhasset, so ~$1 million is probably entry into Manhasset now.